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World oil demand is strong despite market “overreaction” Aramco CEO says

Despite Aramco’s profit falling in the second quarter due to OPEC+ constraints on the company’s output, Nasser painted a picture of healthy and growing demand. Oil use is set to rise by 1.6 MMbpd to 2 MMbpd this year. That will continue into 2025 when Nasser sees global oil consumption “north of 106 MMbpd.” 

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